XYO Network has joined the Mobility Open Blockchain Initiative (MOBI) to develop blockchain standards for the transportation networks of the future.
XYO Network is a geospatial, blockchain-powered location network that provides accurate, certainty-driven location data on everything from cars to smartphones. Using tracking devices created and sent out into the as well as by updating existing IoT devices and mobile phones, the
XYO Network ecosystem delivers, verifiable and trusted coordinates and data needed to execute smart contracts, run smart cities, foster financial transactions, and power a legion of high-stakes, location-centric applications. XYO can deliver complex, multi-layered, 3D-level location data from anywhere on the planet.
It uses crypto-location technology that not only protects privacy, it provides greater accuracy of where objects are both in relation to other objects, and where they are on the planet. Possible use-cases with MOBI could include driverless cars that use the XYO Network to “see” each other, or vehicles that use XYO data to navigate traffic at busy intersections. With its next generation of GPS functionality, the XYO Network can power everything from automated parking payments to smart contracts to any number of mobility applications.
Founded in May, MOBI is working with top global partners on creating a secure, commerce-focused mobility ecosystem used for trusted vehicle identity and tracking, carbon pricing, usage-based insurance, and more.